It is not unusual for first-time buyers to be free of debt. They have been saving for their first home for many months or even years. But after they move into their new home, the new homeowners are often deluged with pre-approved credit card applications from banks and stores offering credit lines. Before they realize what is happening, they can be overwhelmed with debt.
The consumer credit agencies know that mortgage companies do thorough checks before approving a loan, and those who have passed through that process are considered good credit risks. They also know that new homeowners often need to make major purchases of furniture and appliances at a time when they have depleted most of their savings accounts. After years of disciplined savings, new owners may be faced with a tremendous temptation to just say "charge it" for the things they need.
If you have just purchased a home, be aware--and wary--when those credit card applications start pouring in!
Jim and Mikki Snell, GRI Prudential Northwest Properties 2318 Portland Rd., Suite 100 Newberg, OR 97132 Jim Direct: 503-351-5918 Mikki Direct: 503-381-5695 Fax: 503-520-2451 Email: portlandruralhomes@number1expert.com Email: mikki@jimsnell.com
As two of America's NUMBER1EXPERTS™ in the Sherwood, Newberg, and Dundee area Jim and Mikki are well equipped to guide you through all your real estate needs. Call or email them today!
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